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Author Topic: Cloudhashing ASIC mining contracts, UK LTD company - Now Mining & Paying Bitcoin  (Read 196537 times)
tokeweed
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January 29, 2015, 04:31:54 AM
 #1741

can these bozos be sued?  or reported to the feds?

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1547846629
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January 29, 2015, 05:55:53 AM
 #1742

At this point, I'm looking to do what would hurt them more then allow me to get back more.

Offering me 6 dollars for something I originally paid out 1000 plus for just doesn't strike me as a good deal.

If everyone with a contract or more decided to sell off their contracts, Cloudhashing would have less mining power to maintain, hence lowering their monthly overhead. So I'm theorizing that those that decided to stick around may actually start to see some returns, while also having to shell out for Cloudhashing's new increased maintainence fees. So Cloudhashing would have to keep those miners mining just to be able to charge the maintenance right?

Well what if no one went for the deal? Cloudhashing would have to keep running the miners, hoping that each customer's hashing power would make enough btc to pay for the maintenance fee. But what if no one paid the maintenance fee but withdrew it instead? The miners would run for 30 days while each account was in arrears, until they were eventually canceled.

I personally think choking Cloudhashing for 30 more days by not being able to make the 11 dollars they say they'll need to maintain my mining contracts is a better plan than getting 6 dollars from them. Hopefully if a majority of contract holders decide not to take the deal, Cloudhashing will have no choice but to sweeten it.

Thoughts?
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January 29, 2015, 06:13:16 AM
Last edit: January 29, 2015, 06:24:11 AM by msc
 #1743

Well what if no one went for the deal? Cloudhashing would have to keep running the miners, hoping that each customer's hashing power would make enough btc to pay for the maintenance fee. But what if no one paid the maintenance fee but withdrew it instead? The miners would run for 30 days while each account was in arrears, until they were eventually canceled.
Thoughts?
I don't think they're running any miners anymore.  They haven't made any contract payments in 2 weeks, and that's after promising weekly payouts from their pool mining.  

All contracts will be gone in 45 days, either by buyout or cancellation, unless someone wants to pay maintenance fees out of pocket.

Quote
can these bozos be sued?  or reported to the feds?
Yep, breach of contract in shutting down the miners.  Go after Emmanuel Abiodun personally.  
SumthngsWrong
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January 29, 2015, 02:10:27 PM
 #1744

I just received the same offer. Back when I bought the contract (May 2014), 10 large for 2.2 Th/s for 1 year, it was performing nicely until August or so. received about 7 btc in 4 months, which would of been fine, had the payouts remained the same, or the price of bitcoin stayed above 500. The main thing was that Abiodun had promised an increase to 8+ Ph/s by December. Instead it DROPPED from 4.4 Ph/s when I bought the contract to where it is now- 1.7 Ph/s.
 Good thing is I live in Austin, TX, where I went to Cloudhashing's physical office to purchase my contract. I will be going to pay them a visit today or tomorrow.
tokeweed
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February 18, 2015, 01:17:44 AM
 #1745

I just received the same offer. Back when I bought the contract (May 2014), 10 large for 2.2 Th/s for 1 year, it was performing nicely until August or so. received about 7 btc in 4 months, which would of been fine, had the payouts remained the same, or the price of bitcoin stayed above 500. The main thing was that Abiodun had promised an increase to 8+ Ph/s by December. Instead it DROPPED from 4.4 Ph/s when I bought the contract to where it is now- 1.7 Ph/s.
 Good thing is I live in Austin, TX, where I went to Cloudhashing's physical office to purchase my contract. I will be going to pay them a visit today or tomorrow.

post pictures.  Grin

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Chef Ramsay
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February 18, 2015, 03:33:29 AM
 #1746

It's not unheard of that many of these miners operations have been shutting down lately and I didn't read this thread to til the end but it seems people should recognize, that despite their so-called positions, the gameplan just doesn't make sense nor work any longer. OTOH, it's BS which could be the case these days. Not so positive.
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